M&A Deal Summary

Veritas Capital and KKR Acquire Cotiviti

On April 25, 2016, private equity firms Veritas Capital and KKR acquired information technology company Cotiviti from Verisk for 820M USD

Acquisition Highlights
  • This is Veritas Capital’s 4th and KKR’s 6th transaction in the Information Technology sector.
  • This is Veritas Capital’s 13th and KKR’s 81st largest (disclosed) transaction.
  • This is Veritas Capital’s 20th and KKR’s 83rd transaction in the United States.
  • This is Veritas Capital’s 1st and KKR’s 1st transaction in Utah.

M&A Deal Summary
Date 2016-04-25
Target Cotiviti
Sector Information Technology
Buyer(s) Veritas Capital
KKR
Sellers(s) Verisk
Deal Type Divestiture
Deal Value 820M USD

Target

Cotiviti

South Jordan, Utah, United States
Cotiviti is a healthcare service provider that leverages data analytics and technology to limit costs and ensure regulatory compliance for various stakeholders in the healthcare industry, including payors, providers, and employers. Cotiviti was founded in 1996 and is based in South Jordan, Utah.

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Buyer(S) 2

Buyer

Veritas Capital

New York, New York, United States
Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.

DEAL STATS #
Overall 20 of 41
Sector (Information Technology) 4 of 9
Type (Divestiture) 9 of 19
State (Utah) 1 of 1
Country (United States) 20 of 40
Year (2016) 1 of 1
Size (of disclosed) 13 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-18 Truven Health Analytics

Ann Arbor, Michigan, United States

Truven Health Analytics, Inc. is a provider of healthcare data and analytics solutions to constituents across the entire healthcare continuum, including federal and state government agencies, employers, health plans, hospitals, clinicians and pharmaceutical companies. Truven Health Analytics, Inc. is based in Ann Arbor, Michigan.

Sell $2.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-28 APTIM

The Woodlands, Texas, United States

APTIM provides comprehensive and integrated maintenance services, environmental engineering and remediation, infrastructure EPC services, program management, and disaster response and recovery for the private sector and government customers. The business serves a diverse mix of commercial customers in the power, oil & gas, chemical, manufacturing, and retail sectors. Government customers include U.S. federal departments and agencies such as the DoD, DoE, FEMA, and EPA, as well as state and local governments. APTIM is based in The Woodlands, Texas.

Buy $755M
Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.

DEAL STATS #
Overall 207 of 484
Sector (Information Technology) 6 of 26
Type (Divestiture) 26 of 53
State (Utah) 1 of 3
Country (United States) 83 of 210
Year (2016) 13 of 25
Size (of disclosed) 81 of 104
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-21 Naxnova

Mumbai, India

Naxnova is a manufacturer of automotive graphics, with a production capacity of over 15 million automotive graphic sets per annum. Naxnova was founded in 1987 and is based in Mumbai, India.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-24 WMF Group

Geislingen, Germany

WMF Group is a manufacturer of table and kitchenware for private households. In the professional catering sector, WMF is a equipment supplier worldwide with a strong market position particularly in the market for high-quality coffee machines.

Sell €1.6B

Seller(S) 1

SELLER

Verisk

Jersey City, New Jersey, United States
Category Company
Founded 1971
Sector Information Technology
Employees7,500
Revenue 2.7B USD (2023)
DESCRIPTION

Verisk is a source of information about risk.offer risk assessment services and decision analytics for professionals in many fields. property/casualty insurance, financial services, healthcare, government, human resources. Verisk was based in 1971 and is based in Jersey City, New Jersey.

DEAL STATS #
Overall 2 of 7
Sector (Information Technology) 2 of 3
Type (Divestiture) 2 of 7
State (Utah) 1 of 1
Country (United States) 2 of 6
Year (2016) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-14 Risk Intelligence Ireland

Dublin, Ireland

Risk Intelligence Ireland is a provider of fraud detection, compliance, risk control, and process automation services to the Irish insurance industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-19 Greentech Media

Boston, Massachusetts, United States

Greentech Media, Inc. is a provider of business-to-business news, market analysis, and conferences that inform and connect players in the global clean energy market.

Buy -
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